By Susanna Moon
Chicago, July 16 - Morgan Stanley priced another $24 million of CMS curve and S&P 500 index-linked range accrual notes due July 16, 2030, according to a 424B2 filing with the Securities and Exchange Commission.
This brings the total deal size to $25 million, up from $1 million.
The coupon will be 11% for the first year. After that, interest will accrue at 11% per year for each day that the spread of the 30-year Constant Maturity Swap rate over the two-year CMS rate is at least zero and the level of the S&P 500 is at least 750.
Interest is payable monthly.
The payout at maturity will be par.
The notes are callable at par on any quarterly redemption date beginning July 16, 2011.
Morgan Stanley & Co. Inc. is the agent.
| Issuer: | Morgan Stanley
|
| Issue: | CMS curve and S&P 500 index-linked range accrual notes
|
| Amount: | $25 million, up from $1 million
|
| Maturity: | July 16, 2030
|
| Coupon: | 11% per year for one year; thereafter, 11% per year times proportion of days on which 30-year CMS rate is at or above two-year CMS rate and S&P 500 is at least 750; payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call option: | At par on any quarterly redemption date beginning July 16, 2011
|
| Pricing date: | June 29 for $1 million; July 15 for $24 million
|
| Settlement date: | July 16
|
| Agent: | Morgan Stanley & Co. Inc.
|
| Fees: | 4%
|
| Cusip: | 61745EW64
|
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